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1 <p><b>PLIVA, the largest pharmaceutical company in Central and Eastern Europe,
2 signed a non-binding Memorandum of Understanding with SANOFI BIOCOM PHARMA HOLDING
3 B.V.</b></p>
4 <p> Zagreb, 14 December 1998 </p>
5 <p>The Memorandum of Understanding deals with PLIVA's intention to purchase a
6 60% stake in the Polish pharmaceutical company FARMACOM whose head office is
7 situated in Krakow, Poland. According to the Memorandum of Understanding, the
8 purchase of the stake will be carried out through PLIVA’s daughter company POLFA
9 Krakow which already owns the remaining 40% stake in FARMACOM. </p>
10 <p>The transaction will be conditional on (inter alia) obtaining the approval
11 of the Polish Office for market competition protection, which is expected in
12 the Spring of 1999. </p>
13 <p>FARMACOM produces, develops and markets a range of high quality drugs in all
14 forms - tablets, capsules and especially syrups. Production activities and the
15 position of FARMACOM in Krakow are ideally coupled with the existing needs and
16 capacities of PLIVA’s Polish subsidiary POLFA Krakow for the production of liquid
17 drugs (syrups). </p>
18 <p>Commenting on this event Mr. Zeljko Covic, President of PLIVA’s Management
19 Board, said: "This acquisition will be a further confirmation of PLIVA’s strategy
20 to expand and grow on Central and Eastern European markets, thus additionally
21 strengthening its position as the leading pharmaceutical company from the region.
22 By purchasing a stake in FARMACOM, PLIVA will likewise widen the range of high
23 quality products in its portfolio as well as empower its position in one of
24 the fastest growing markets in the region". </p>

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